StockMarketWire.com - BBGI SICAV has entered into a share and unit sale agreement with Commonwealth Investments Pty Limited to acquire the remaining 50% equity interest in the Northern Territory Secure Facilities PPP Project in Australia.

Upon completion, BBGI will own 100% of the equity interest in NTSF. The agreement is conditional on the receipt of third party consents and regulatory clearance by the Australian Foreign Investment Review Board. The acquisition is expected to complete once all such consents and clearances have been obtained.

The Northern Territory Secure Facilities is a new 1,000 bed correctional facility, located on a greenfield site at Holtze, near Darwin, Australia. NTSF became operational in 2014 and allows Northern Territory Corrections to engage prisoners into structured daily programmes in order to foster rehabilitation and stronger re-integration. The concession term runs until June 2044. BBGI will receive availability payments during the concession period from the Northern Territory government which is rated Aa1 by Moody's Investor Services.




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